Amazon’s Jeff Bezos to start US$2B charitable fund

Amazon founder and CEO Jeff Bezos said Thursday that he is giving US$2 billion to start a fund that will open preschools in low-income neighbourhoods and give money to nonprofits that help homeless families.

Bezos, whose stake in Amazon is worth about $160 billion, says that he’ll call it the Bezos Day One Fund. An Amazon.com Inc. spokeswoman confirmed that the money will all come from Bezos, though there are few details about how the fund will operate.

In a post to his Twitter account, Bezos said one part of the fund will give money to organizations and groups that provide shelter and food to young homeless families. The other part will launch and operate free preschools in low-income communities, where “the child will be the customer.”
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